Tribunal cuts Tesco's fine over dairy price fixing to £6.5m

Tesco will pay a reduced £6.5m fine for its part in a dairy price fixing scandal after an appeal ruling that ends a more than decade-long investigation. The penalty is substantially less than the initial £10m fine imposed on Tesco after it won a partial victory against the Office of Fair Trading.

The Competition Appeal Tribunal decided in December to overturn more than half of the findings by the OFT that Tesco colluded with other retailers and suppliers to fix cheese prices.